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High Yield Fund

Daily price w/o sales charge as of 02/22/2019

$7.25

arrowUp$0.01

YTD Returns w/o sales charge as of 02/22/2019

6.15%

Overall Morningstar Ratings

High Yield Bond
as of 01/31/2019

Morningstar rated the Lord Abbett High Yield Fund class A share 4, 5 and 4 stars among 607, 513 and 331 High Yield Bond Funds for the overall rating and the 3, 5 and 10 year periods ended 1/31/2019, respectively.

Please click here for performance current to the most recent quarter-end and month-end.

Click here to view all legal text including risk information

Summary

Summary

What is the High Yield Fund?

The Fund seeks to deliver current income and the opportunity for capital appreciation by investing primarily in high yield corporate bonds.

A HERITAGE OF HIGH YIELD

Brings a 40+ year history of high-yield investing, focused on fundamental, bottom-up credit research.

 

AN OPPORTUNISTIC APPROACH

Provides the flexibility to adjust to the market environment and take advantage of opportunities across the credit spectrum.

STRONG TRACK RECORD

Has offered a track record of strong performance versus peers in up and down markets, demonstrating the strength of this active approach as a core high-yield holding over a full market cycle.

Yield

Dividend Yield 1 as of 02/22/2019  

w/o sales charge 5.92%
w/ sales charge 5.79%

30-Day Standardized Yield 2 as of 01/31/2019  

6.04%

In absence of the fee waiver, yields shown would have been lower. Yields for other share classes will vary.

Expense Ratioas of 01/31/2019

Fund Basicsas of 12/31/2018

Total Net Assets
$6.03 B
Inception Date
12/31/1998
Dividend Frequency
Monthly (Daily Accrual)
Number of Holdings
646
CUSIP
54400N102
Minimum Initial Investment
$1,500+

Fund Expense Ratio :

0.90%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/31/1998
w/o sales charge 4.73% -1.26% 8.45% 4.67% 10.35% 6.65%
Lipper Category Avg. High Yield Funds 4.18% 0.59% 7.46% 3.38% 9.22% -
ICE BofAML U.S. High Yield Constrained Index 4.59% 1.57% 9.46% 4.61% 10.88% 6.69%
w/ sales charge 2.35% -3.51% 7.65% 4.19% 10.11% 6.53%

Fund Expense Ratio :

0.90%

Fund Expense Ratio :

0.90%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/31/1998
w/o sales charge -5.15% -5.15% 6.03% 3.81% 10.58% 6.44%
Lipper Category Avg. High Yield Funds -2.84% -2.85% 5.49% 2.65% 9.25% -
ICE BofAML U.S. High Yield Constrained Index -2.27% -2.27% 7.27% 3.83% 11.02% 6.48%
w/ sales charge -7.32% -7.32% 5.22% 3.34% 10.34% 6.32%

Fund Expense Ratio :

0.90%

Returns with sales charges reflect a maximum sales charge of 2.25%.

The performance quoted represents past performance, which is no indication of future results. Current performance may be higher or lower than the performance data quoted. Returns shown include the reinvestment of all distributions. Returns shown at net asset value do not reflect the current maximum sales charge, had the sales charge been included, returns would have been lower. The investment return and principal value of an investment will fluctuate so that shares, on any given day or when redeemed, may be worth more or less than the original cost. Therefore, there can be no assurance of future results.

RELATED CONTENT

U.S. High Yield: Lessons from the Recent Volatility
February 11, 2019

Rather than trying to anticipate short-term price moves, we believe investors would be better served by focusing on the asset class’s long-term history of risk-adjusted returns.

High Yield: Holding Up in 2018
August 6, 2018

So far in 2018, high yield has outperformed investment grade, with lower-rated issues leading the way.

High Yield: Active or Passive? Four Points to Consider
March 26, 2018

Here, we offer a closer look at the key attributes—and relative performance—of the two strategies.

Type Assets
High Yield Bonds
Bank Loans
Equity
Investment Grade Bonds
Convertibles
Other
Cash

The Fund's portfolio is actively managed and is subject to change. "Other" may include municipal bonds and non-index holdings.

Maturity Assets
Less than 1 year
1-2.99 years
3-4.99 years
5-6.99 years
7-9.99 years
Greater than 10 years

The Fund's portfolio is actively managed and is subject to change. "Other" may include municipal bonds and non-index holdings.

Credit Quality Distribution as of 12/31/2018 View Portfolio

Rating Assets
BBB
BB
B
<B
Not Rated

Ratings (other than U.S. Treasury securities or securities issued or backed by U.S. agencies) provided by Standard & Poor's, Moody's, and Fitch. For certain securities that are not rated by any of these three agencies, credit ratings from other agencies may be used. Where the rating agencies rate a security differently, Lord Abbett uses the average rating based on numeric values assigned to each rating. Ratings range from AAA (highest) to D (lowest). Bonds rated BBB or above are considered investment grade. Credit ratings BB and below are lower-rated securities (junk bonds). High-yielding, non-investment-grade bonds (junk bonds) involve higher risks than investment-grade bonds. Adverse conditions may affect the issuer's ability to pay interest and principal on these securities. A portion of the portfolio's securities may not be rated. Breakdown is not an S&P credit rating or an opinion of S&P as to the creditworthiness of such portfolio. Ratings apply to the credit worthiness of the issuers of the underlying securities and not the fund or its shares. Ratings may be subject to change.

Investment Team

Steven F. Rocco
Steven F. Rocco, CFA

Partner & Director of Taxable Fixed Income

18 Years of Industry Experience

Robert A. Lee
Robert A. Lee

Partner & Chief Investment Officer

28 Years of Industry Experience

Christopher Gizzo
Christopher Gizzo, CFA

Managing Director & Portfolio Manager

11 Years of Industry Experience

Supported By 67 Investment Professionals with 14 Years Avg. Industry Experience

Contact a Representative

To contact your representative, enter your zip code and select your channel below.

Performance

Performance

Dividend Yield 1 as of 02/22/2019  

w/o sales charge 5.92%
w/ sales charge 5.79%

30-Day Standardized Yield 2 as of 01/31/2019  

  Subsidized3 Un-Subsidized4
w/o sales charge 6.04% 6.04%

In absence of the fee waiver, yields shown would have been lower. Yields for other share classes will vary.

Fund Expense Ratio :

0.90%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/31/1998
w/o sales charge 4.73% -1.26% 8.45% 4.67% 10.35% 6.65%
Lipper Category Avg. High Yield Funds 4.18% 0.59% 7.46% 3.38% 9.22% -
ICE BofAML U.S. High Yield Constrained Index 4.59% 1.57% 9.46% 4.61% 10.88% 6.69%
w/ sales charge 2.35% -3.51% 7.65% 4.19% 10.11% 6.53%

Fund Expense Ratio :

0.90%

Fund Expense Ratio :

0.90%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/31/1998
w/o sales charge -5.15% -5.15% 6.03% 3.81% 10.58% 6.44%
Lipper Category Avg. High Yield Funds -2.84% -2.85% 5.49% 2.65% 9.25% -
ICE BofAML U.S. High Yield Constrained Index -2.27% -2.27% 7.27% 3.83% 11.02% 6.48%
w/ sales charge -7.32% -7.32% 5.22% 3.34% 10.34% 6.32%

Fund Expense Ratio :

0.90%

Returns with sales charges reflect a maximum sales charge of 2.25%.

The performance quoted represents past performance, which is no indication of future results. Current performance may be higher or lower than the performance data quoted. Returns shown include the reinvestment of all distributions. Returns shown at net asset value do not reflect the current maximum sales charge, had the sales charge been included, returns would have been lower. The investment return and principal value of an investment will fluctuate so that shares, on any given day or when redeemed, may be worth more or less than the original cost. Therefore, there can be no assurance of future results.

Year Fund Returns ICE BofAML U.S. High Yield Constrained Index
2018 -5.15% -2.27%
2017 8.50% 7.48%
2016 15.84% 17.49%
2015 -2.26% -4.61%
2014 3.46% 2.51%
2013 9.69% 7.41%
2012 16.50% 15.55%
2011 3.15% 4.37%
2010 14.31% 15.07%
2009 50.51% 58.10%
2008 -23.42% -
2007 2.43% -
2006 9.94% -
2005 1.15% -
2004 10.42% -
2003 21.59% -
2002 -0.10% -
2001 5.36% -
2000 -3.01% -
1999 6.57% -
Year Q1 Q2 Q3 Q4 Yearly Returns
2019 - - - - 6.19%
2018 -1.07% -0.04% 2.54% -6.47% -5.15%
2017 2.82% 1.98% 2.45% 1.00% 8.50%
2016 2.01% 5.52% 5.46% 2.05% 15.84%
2015 3.05% 0.86% -4.23% -1.81% -2.26%
2014 2.92% 3.38% -1.83% -0.95% 3.46%
2013 3.97% -1.03% 2.51% 3.99% 9.69%
2012 6.63% 0.36% 5.06% 3.61% 16.50%
2011 3.82% 1.07% -7.02% 5.73% 3.15%
2010 4.93% -0.92% 6.33% 3.40% 14.31%
2009 5.95% 17.32% 14.23% 6.01% 50.51%
2008 -3.43% 1.99% -7.81% -15.68% -23.42%
2007 2.98% 0.17% 0.48% -1.17% 2.43%
2006 2.57% 0.01% 2.80% 4.27% 9.94%
2005 -1.74% 1.49% 0.87% 0.56% 1.15%
2004 1.07% -0.32% 4.34% 5.04% 10.42%
2003 4.06% 8.25% 2.40% 5.41% 21.59%
2002 1.51% -3.59% -3.78% 6.10% -0.10%
2001 5.14% -1.67% -3.99% 6.15% 5.36%
2000 -1.66% 0.99% 0.31% -2.65% -3.01%
1999 3.43% -0.11% -0.81% 3.99% 6.57%
1998 - - - - 0.80%

Performance is shown for each quarter and each calendar year. Past performance is no guarantee of future results.

Growth of $10,000 as of 01/31/2019

The chart begins on the Fund's inception date of 12/31/1998.

Based on a hypothetical Class A share investment of $10,000 on 12/31/1998 without sales charge and includes the reinvestment of all distributions.

 

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

Rating Assets
High Yield Bonds
Bank Loans
Equity
Investment Grade Bonds
Convertibles
Other
Cash

The Fund's portfolio is actively managed and is subject to change. "Other" may include municipal bonds and non-index holdings.

Rating Assets
Less than 1 year
1-2.99 years
3-4.99 years
5-6.99 years
7-9.99 years
Greater than 10 years

The Fund's portfolio is actively managed and is subject to change. "Other" may include municipal bonds and non-index holdings.

Credit Quality Distribution as of 12/31/2018

Rating Assets
BBB
BB
B
<B
Not Rated

Ratings (other than U.S. Treasury securities or securities issued or backed by U.S. agencies) provided by Standard & Poor's, Moody's, and Fitch. For certain securities that are not rated by any of these three agencies, credit ratings from other agencies may be used. Where the rating agencies rate a security differently, Lord Abbett uses the average rating based on numeric values assigned to each rating. Ratings range from AAA (highest) to D (lowest). Bonds rated BBB or above are considered investment grade. Credit ratings BB and below are lower-rated securities (junk bonds). High-yielding, non-investment-grade bonds (junk bonds) involve higher risks than investment-grade bonds. Adverse conditions may affect the issuer's ability to pay interest and principal on these securities. A portion of the portfolio's securities may not be rated. Breakdown is not an S&P credit rating or an opinion of S&P as to the creditworthiness of such portfolio. Ratings apply to the credit worthiness of the issuers of the underlying securities and not the fund or its shares. Ratings may be subject to change.

Portfolio Positioning as of 12/31/2018

  • High yield bonds came under pressure over the fourth quarter amid fears of slowing global growth and potential U.S. Federal Reserve (Fed) policy mistakes, as well as sharp equity and oil price declines. The segment underperformed investment grade issues, as represented by the Bloomberg Barclays U.S. Aggregate Bond Index.
  • The portfolio is overweight the retail sector, as we believe a strong consumer, low unemployment, high consumer confidence, and an uptick in wage inflation is a tailwind for this sector.
  • The portfolio is overweight the health care sector. We believe this sector is attractive due to improving volumes in the hospitals segment and improved overall sentiment in the industry.
  • We decreased the portfolio’s underweight to the telecom sector in an effort to be more defensively positioned given the volatility during the quarter. That said, it remains the portfolio’s largest underweight, as we believe that in addition to secular issues faced by the wireline segment, idiosyncratic issues continue to plague major wireline companies.
  • As of quarter-end, the portfolio had modest allocations to out-of-index sectors, such as bank loans, convertibles, investment grade bonds, and equities. We believe select exposures to these sectors offer attractive risk-reward opportunities, potential portfolio diversification benefits and avenues for liquidity.
  • We continue to believe that general economic fundamentals and strong expected earnings growth will favor the lower-rated segments of the high yield market. We expect default rates to remain subdued and believe that high yield spreads can grind tighter from current levels as consumer sentiment continues to improve.

Portfolio Details as of 12/31/2018

Total Net Assets
$6.03 B
Number of Issues
646
Average Coupon
6.41%
Average Maturity
6.61 Years
Average Effective Duration
4.85 Years

To view definitions for the above Portfolio Details, Click here.

Average Coupon - The weighted average annual rate of interest on a bond’s face value that the issuer agrees to pay the holder until maturity for all the securities in a portfolio.

Average Maturity - The length of time until the average security in a portfolio will mature or be redeemed by its issuer in proportion to its dollar value. Indicating a portfolio’s sensitivity to general market interest rate changes, a longer average maturity implies greater relative portfolio volatility.

Average Effective Duration - The change in the value of a fixed income security that will result from a 1% change in interest rates, taking into account anticipated cash flow fluctuations from mortgage prepayments, puts, adjustable coupons, and potential call dates. Duration is expressed as a number of years, and generally, the larger a duration, the greater the interest-rate risk or reward for a portfolio’s underlying bond prices. Where applicable, certain investments, such as common or preferred stock, convertible bonds and convertible preferred stock, ETFs, ADRs, and CPI swaps and related futures, are excluded from these calculations.

Holding Coupon Maturity Assets
Sprint Capital Corp. 6.875% 11/15/2028 1.4%
HCA, Inc. 5.250% 06/15/2026 0.9%
T-Mobile USA, Inc. 6.500% 01/15/2026 0.9%
CenturyLink, Inc. 7.500% 04/01/2024 0.7%
Freeport-McMoRan, Inc. 3.875% 03/15/2023 0.7%
Tenet Healthcare Corp. 5.125% 05/01/2025 0.7%
CCO Holdings LLC / CCO Holdings Capital Corp. 5.750% 02/15/2026 0.6%
Bombardier, Inc. 7.500% 03/15/2025 0.6%
CCO Holdings LLC / CCO Holdings Capital Corp. 5.875% 04/01/2024 0.6%
Tesla Motors, Inc. 5.300% 08/15/2025 0.6%
% of Total Assets 7.7%

Aggregate holdings are updated monthly, 30 days after month end. Aggregate holdings are presented to illustrate examples of the securities that the Fund has bought and the diversity of the areas in which the Fund may invest, and may not be representative of the Fund's current or future investments. The figures presented are as of the date shown and may change at any time.

Holding Coupon Maturity Assets
Sprint Capital Corp.6.875% 11/15/20281.4%
HCA, Inc.5.250% 06/15/20260.9%
T-Mobile USA, Inc.6.500% 01/15/20260.9%
CenturyLink, Inc.7.500% 04/01/20240.7%
Freeport-McMoRan, Inc.3.875% 03/15/20230.7%
Tenet Healthcare Corp.5.125% 05/01/20250.7%
CCO Holdings LLC / CCO Holdings Capital Corp.5.750% 02/15/20260.6%
Bombardier, Inc.7.500% 03/15/20250.6%
CCO Holdings LLC / CCO Holdings Capital Corp.5.875% 04/01/20240.6%
Tesla Motors, Inc.5.300% 08/15/20250.6%
Netflix, Inc.3.625% 05/15/20270.6%
HCA, Inc.5.500% 06/15/20470.6%
Numericable Group S.A.7.375% 05/01/20260.6%
Calpine Corp.5.750% 01/15/20250.5%
Netflix, Inc.5.875% 02/15/20250.5%
DISH DBS Corp.7.750% 07/01/20260.5%
Ally Financial, Inc.8.000% 11/01/20310.5%
Albertsons Cos LLC / Safeway, Inc. / New Albertson6.625% 06/15/20240.5%
CCO Holdings LLC / CCO Holdings Capital Corp.5.875% 05/01/20270.5%
CSC Holdings LLC5.500% 04/15/20270.5%
CSC Holdings LLC10.875% 10/15/20250.4%
Valeant Pharmaceuticals International, Inc.5.875% 05/15/20230.4%
RegionalCare Hospital Partners Holdings Inc / Life9.750% 12/01/20260.4%
UPCB Finance Ltd.5.375% 01/15/20250.4%
MEG Energy Corp.7.000% 03/31/20240.4%
California Resources Corp.8.000% 12/15/20220.4%
WellCare Health Plans, Inc.5.250% 04/01/20250.4%
Peabody Energy Corp.6.375% 03/31/20250.4%
Valeant Pharmaceuticals International, Inc.4.500% 05/15/20230.4%
Navient Corp.6.750% 06/25/20250.4%
CF Industries, Inc.5.150% 03/15/20340.3%
Cheniere Corpus Christi Holdings LLC5.125% 06/30/20270.3%
Sirius XM Radio, Inc.5.000% 08/01/20270.3%
Navient Corp.6.125% 03/25/20240.3%
Centene Corp.4.750% 01/15/20250.3%
Equinix, Inc.2.875% 02/01/20260.3%
Rockies Express Pipeline LLC6.875% 04/15/20400.3%
Diamondback Energy, Inc.4.750% 11/01/20240.3%
Chesapeake Energy Corp.7.000% 10/01/20240.3%
KFC Holding Co./Pizza Hut Holdings LLC/Taco Bell o5.000% 06/01/20240.3%
Verscend Escrow Corp9.750% 08/15/20260.3%
Cliffs Natural Resources, Inc.5.750% 03/01/20250.3%
Genworth Holdings Inc4.900% 08/15/20230.3%
Match Group, Inc.5.000% 12/15/20270.3%
Cheniere Corpus Christi Holdings LLC5.875% 03/31/20250.3%
RBS Global & Rexnord Corp.4.875% 12/15/20250.3%
Centene Corp.5.375% 06/01/20260.3%
Ziggo BV5.500% 01/15/20270.3%
CSL Capital, LLC8.250% 10/15/20230.3%
Molina Healthcare, Inc.4.875% 06/15/20250.3%
Teva Pharmaceutical Finance Netherlands III BV3.150% 10/01/20260.3%
Valeant Pharmaceuticals International, Inc.8.500% 01/31/20270.3%
Dell International LLC / EMC Corp6.020% 06/15/20260.3%
Transocean, Inc.7.500% 01/15/20260.3%
Tenet Healthcare Corp.6.750% 06/15/20230.3%
Community Health Systems, Inc.8.000% 11/15/20190.3%
Yingde Gases Investment Ltd6.250% 01/19/20230.3%
Ingevity Corp.4.500% 02/01/20260.3%
MSCI, Inc.5.750% 08/15/20250.3%
Clear Channel Worldwide Holdings, Inc.6.500% 11/15/20220.3%
Conn's, Inc.7.250% 07/15/20220.3%
DKT Finance ApS9.375% 06/17/20230.3%
Rio Oil Finance Trust Series 2018-18.200% 04/06/20280.3%
NRG Energy, Inc.5.750% 01/15/20280.3%
Mueller Water Products, Inc.5.500% 06/15/20260.3%
CEC Entertainment, Inc.8.000% 02/15/20220.3%
CIT Group, Inc.6.125% 03/09/20280.3%
Citgo Holding, Inc.10.750% 02/15/20200.3%
CONSOL Energy Inc11.000% 11/15/20250.3%
GCI LLC6.875% 04/15/20250.3%
Valeant Pharmaceuticals International, Inc.5.500% 03/01/20230.3%
Mclaren Finance PLC5.000% 08/01/20220.3%
Ashland, Inc.6.875% 05/15/20430.3%
Intelsat Jackson Holdings SA5.500% 08/01/20230.2%
Noble Holding International Ltd.7.875% 02/01/20260.2%
Tapstone Energy LLC / Tapstone Energy Finance Corp9.750% 06/01/20220.2%
CCO Holdings LLC / CCO Holdings Capital Corp.5.125% 05/01/20270.2%
Ortho-Clinical Diagnostics Inc / Ortho-Clinical Di6.625% 05/15/20220.2%
Alcoa Nederland Holding BV6.750% 09/30/20240.2%
Churchill Downs, Inc.4.750% 01/15/20280.2%
Weight Watchers International, Inc.8.625% 12/01/20250.2%
Tenet Healthcare Corp.4.625% 07/15/20240.2%
HCA, Inc.8.360% 04/15/20240.2%
Rede D'or Finance Sarl4.950% 01/17/20280.2%
L Brands, Inc.5.250% 02/01/20280.2%
Jonah Energy LLC / Jonah Energy Finance Corp7.250% 10/15/20250.2%
Azul Investments LLP5.875% 10/26/20240.2%
DaVita, Inc.5.000% 05/01/20250.2%
Valeant Pharmaceuticals International, Inc.5.625% 12/01/20210.2%
Ball Corp.4.875% 03/15/20260.2%
Blue Cube Spinco, Inc.10.000% 10/15/20250.2%
Lennar Corp.4.750% 05/30/20250.2%
Cemig Geracao e Transmissao SA9.250% 12/05/20240.2%
Nationstar Mortgage Holdings, Inc.9.125% 07/15/20260.2%
Century Communities, Inc.5.875% 07/15/20250.2%
Sensata Technologies BV5.625% 11/01/20240.2%
PGT Escrow Issuer Inc6.750% 08/01/20260.2%
Hilton Domestic Operating Co, Inc.5.125% 05/01/20260.2%
Allison Transmission, Inc.5.000% 10/01/20240.2%
Marble II Pte Ltd.5.300% 06/20/20220.2%
BankUnited, Inc.4.875% 11/17/20250.2%
NGPL Pipeco LLC4.875% 08/15/20270.2%
CNO Financial Group, Inc.5.250% 05/30/20250.2%
Cogent Communications Group, Inc.5.375% 03/01/20220.2%
Centennial Resource Production LLC5.375% 01/15/20260.2%
Deckers Outdoor Corp.0.000% -0.2%
United Rentals, Inc.4.875% 01/15/20280.2%
Waste Pro USA Inc5.500% 02/15/20260.2%
Callon Petroleum Co.6.125% 10/01/20240.2%
IRB Holding Corp6.750% 02/15/20260.2%
Pulte Group, Inc.5.500% 03/01/20260.2%
Norbord, Inc.6.250% 04/15/20230.2%
Service Corp. International4.625% 12/15/20270.2%
Alta Mesa Holdings L.P. / Alta Mesa Finance Servic7.875% 12/15/20240.2%
Eldorado Resorts, Inc.6.000% 04/01/20250.2%
FAGE International SA/ FAGE USA Dairy Industry Inc5.625% 08/15/20260.2%
Caesars Palace Las Vegas Trust 2017-VICI4.354% 10/15/20340.2%
Penn National Gaming, Inc.5.625% 01/15/20270.2%
Denbury Resources, Inc.5.500% 05/01/20220.2%
99 Cents Only Stores7.707% 01/13/20220.2%
AES Red Oak LLC9.200% 11/30/20290.2%
AMC Networks, Inc.4.750% 08/01/20250.2%
Sinclair Broadcast Group, Inc.5.875% 03/15/20260.2%
Under Armour, Inc.3.250% 06/15/20260.2%
EW Scripps Co.5.125% 05/15/20250.2%
Berry Petroleum Co.7.000% 02/15/20260.2%
Exterran Energy Solutions L.P. / EES Finance Corp.8.125% 05/01/20250.2%
Precision Drilling Corp.5.250% 11/15/20240.2%
Neiman Marcus Group Inc., The5.630% 10/25/20200.2%
Turkiye Sise ve Cam Fabrikalari AS4.250% 05/09/20200.2%
Air Medical Group Holdings, Inc.6.375% 05/15/20230.2%
Enova International, Inc.8.500% 09/01/20240.2%
Con-way, Inc.6.700% 05/01/20340.2%
SRC Energy Inc6.250% 12/01/20250.2%
J Crew Group Inc.5.977% 03/05/20210.2%
Jagged Peak Energy LLC5.875% 05/01/20260.2%
SPX FLOW, Inc.5.625% 08/15/20240.2%
Rowan Companies, Inc.4.750% 01/15/20240.2%
Hillman Group, Inc.6.375% 07/15/20220.2%
Belo Corp.7.250% 09/15/20270.2%
Rumo Luxembourg Sarl7.375% 02/09/20240.2%
TRI Pointe Homes LLC5.250% 06/01/20270.2%
Southwestern Energy Co.7.750% 10/01/20270.2%
Intertape Polymer Group Inc7.000% 10/15/20260.2%
Jurassic Holdings III, Inc.6.875% 02/15/20210.2%
Lamb Weston Holdings, Inc.4.625% 11/01/20240.2%
PetSmart, Inc.5.875% 06/01/20250.2%
Toll Brothers Finance Corp.4.875% 03/15/20270.2%
HCA, Inc.7.500% 12/15/20230.2%
AMC Networks, Inc.5.000% 04/01/20240.2%
Baffinland Iron Mines Corp / Baffinland Iron Mines8.750% 07/15/20260.2%
Gray Escrow Inc7.000% 05/15/20270.2%
NextEra Energy Operating Partners LP4.500% 09/15/20270.2%
Pulte Group, Inc.5.000% 01/15/20270.2%
Netflix, Inc.4.625% 05/15/20290.2%
Yum! Brands, Inc.5.350% 11/01/20430.2%
WPX Energy, Inc.5.250% 09/15/20240.2%
CSI Compressco LP / CSI Compressco Finance Inc7.500% 04/01/20250.2%
Cheniere Energy Partners LP5.625% 10/01/20260.2%
Post Holdings, Inc.5.500% 03/01/20250.2%
Texas Capital Bank NA/Dallas TX5.250% 01/31/20260.2%
Gray Television, Inc.5.875% 07/15/20260.2%
Western Digital Corp.4.750% 02/15/20260.2%
Brand Energy & Infrastructure Services Inc8.500% 07/15/20250.2%
Curo Group Holdings Corp8.250% 09/01/20250.2%
KFC Holding Co./Pizza Hut Holdings LLC/Taco Bell o4.750% 06/01/20270.2%
Rain CII Carbon LLC7.250% 04/01/20250.2%
Autopistas del Sol SA/Costa Rica7.375% 12/30/20300.2%
Sirius XM Radio, Inc.5.375% 07/15/20260.2%
Twilio, Inc.0.250% 06/01/20230.2%
Williams Scotsman International Inc7.875% 12/15/20220.2%
Barminco Finance Pty Ltd.6.625% 05/15/20220.2%
Enterprise Development Authority/The12.000% 07/15/20240.2%
Ingles Markets, Inc.5.750% 06/15/20230.2%
Wendy's International, Inc.7.000% 12/15/20250.2%
Bahia Sul Holdings GmbH6.000% 01/15/20290.2%
Covanta Holding Corp.6.000% 01/01/20270.2%
Magnolia Oil & Gas Operating LLC / Magnolia Oil &6.000% 08/01/20260.2%
Summit Materials LLC5.125% 06/01/20250.2%
HLF Financing Sarl LLC / Herbalife International I7.250% 08/15/20260.2%
Rumo Luxembourg Sarl5.875% 01/18/20250.2%
Popular, Inc.6.125% 09/14/20230.2%
DaVita, Inc.5.125% 07/15/20240.2%
William Lyon Homes, Inc.6.000% 09/01/20230.2%
Marriott Ownership Resorts Inc / ILG LLC6.500% 09/15/20260.2%
Williams Scotsman International Inc6.875% 08/15/20230.2%
Vistra Operations Co LLC5.500% 09/01/20260.2%
Ladder Capital Finance Holdings LLC/Ladder Capital5.250% 10/01/20250.2%
Provincia de la Rioja9.750% 02/24/20250.2%
j2 Cloud Services LLC / j2 Global Co-Obligor Inc6.000% 07/15/20250.2%
KOC Holding AS5.250% 03/15/20230.2%
Millicom International Cellular S.A.6.625% 10/15/20260.2%
InterXion Holding NV4.750% 06/15/20250.2%
William Lyon Homes, Inc.5.875% 01/31/20250.2%
Jacobs Entertainment, Inc.7.875% 02/01/20240.2%
EP Energy LLC8.000% 11/29/20240.2%
Pharmaceutical Product Development LLC6.375% 08/01/20230.2%
Britax Childcare4.500% 10/15/20200.2%
Promontoria Holding 264 BV6.750% 08/15/20230.2%
Kratos Defense & Security Solutions Inc6.500% 11/30/20250.2%
General Motors Co.5.000% 10/01/20280.2%
VeriSign, Inc.5.250% 04/01/20250.2%
Murphy Oil USA, Inc.5.625% 05/01/20270.2%
Versum Materials, Inc.5.500% 09/30/20240.2%
Aston Martin Capital Holdings Ltd6.500% 04/15/20220.2%
Meredith Corp.6.875% 02/01/20260.2%
Fair Isaac Corp.5.250% 05/15/20260.2%
MEG Energy Corp.6.500% 01/15/20250.2%
Southern Star Central Corp.5.125% 07/15/20220.2%
Eterna Capital Pte Ltd8.000% 12/11/20220.2%
Provincia de Rio Negro7.750% 12/07/20250.2%
Booz Allen Hamilton, Inc.5.125% 05/01/20250.2%
Forming Machining Indust6.851% 10/09/20250.2%
AHP Health Partners Inc9.750% 07/15/20260.2%
Orchestra Borrower LLC / Orchestra Co-Issuer Inc6.750% 06/15/20220.2%
Apergy Corp6.375% 05/01/20260.2%
Mohegan Tribal Gaming Authority7.875% 10/15/20240.2%
Blitz F18-674 GmbH6.000% 07/30/20260.2%
NCI Building Systems, Inc.8.000% 04/15/20260.2%
Garda World Security Corp8.750% 05/15/20250.2%
Horizon Pharma USA Inc8.750% 11/01/20240.2%
Wolverine World Wide, Inc.5.000% 09/01/20260.2%
Alaska Air Group, Inc.0.000% -0.2%
Pactiv Corp.7.950% 12/15/20250.2%
BCD Acquisition, Inc.9.625% 09/15/20230.2%
Ashton Woods USA LLC / Ashton Woods Finance Co.6.750% 08/01/20250.2%
Itron, Inc.5.000% 01/15/20260.2%
Cheniere Energy Partners LP5.250% 10/01/20250.2%
Boyne USA Inc7.250% 05/01/20250.2%
Macquarie Bank Ltd./London6.125% 03/08/21670.2%
ESH Hospitality, Inc.5.250% 05/01/20250.2%
WildHorse Resource Development Corp6.875% 02/01/20250.2%
Tullow Oil plc7.000% 03/01/20250.2%
JB Poindexter & Co., Inc.7.125% 04/15/20260.2%
VOC Escrow Ltd5.000% 02/15/20280.2%
Aegea Finance Sarl5.750% 10/10/20240.2%
Beacon Roofing Supply, Inc.4.875% 11/01/20250.2%
West Street Merger Sub Inc6.375% 09/01/20250.2%
Intelsat Jackson Holdings SA8.500% 10/15/20240.2%
Weibo Corp.1.250% 11/15/20220.2%
Inter Media and Communication SpA4.875% 12/31/20220.2%
Quicken Loans Inc5.250% 01/15/20280.2%
Everi Payments Inc7.500% 12/15/20250.2%
Acrisure LLC / Acrisure Finance Inc7.000% 11/15/20250.2%
Warrior Met Coal Inc8.000% 11/01/20240.2%
WeWork Cos Inc7.875% 05/01/20250.2%
Tenet Healthcare Corp.7.000% 08/01/20250.2%
Hunt Oil Co of Peru LLC Sucursal Del Peru6.375% 06/01/20280.2%
Rockpoint Gas Storage Canada Ltd7.000% 03/31/20230.2%
Mattel, Inc.6.750% 12/31/20250.2%
Hub International Ltd.7.000% 05/01/20260.2%
Del Frisco's Restaurant Grou8.563% 06/27/20250.2%
Surgery Center Holdings, Inc.6.750% 07/01/20250.2%
Hilcorp Energy L.P. / Hilcorp Finance Co.5.000% 12/01/20240.2%
Hema Bondco II BV8.500% 01/15/20230.2%
Sealed Air Corp.6.875% 07/15/20330.2%
Salem Communications Corp.6.750% 06/01/20240.2%
Indigo Natural Resources LLC6.875% 02/15/20260.2%
Covey Park Energy LLC / Covey Park Finance Corp7.500% 05/15/20250.2%
Mercer International, Inc.5.500% 01/15/20260.2%
Buena Vista Gaming Authority13.000% 04/01/20230.2%
Dutch Lion BV11.250% 06/15/20200.1%
Teleflex, Inc.4.875% 06/01/20260.1%
Forum Energy Technologies, Inc.6.250% 10/01/20210.1%
ADT Corp.4.875% 07/15/20320.1%
Targa Resources Partners L.P.5.375% 02/01/20270.1%
Geo Group, Inc.6.000% 04/15/20260.1%
Hawaiian Airlines Class B Pass Through Certificate4.950% 01/15/20220.1%
Sinclair Broadcast Group, Inc.5.125% 02/15/20270.1%
New Home Co, Inc./The7.250% 04/01/20220.1%
Lamb Weston Holdings, Inc.4.875% 11/01/20260.1%
CDW Corp.5.500% 12/01/20240.1%
Gibson Brands, Inc.8.875% 08/01/20190.1%
TopBuild Corp.5.625% 05/01/20260.1%
MasTec, Inc.4.875% 03/15/20230.1%
Mobile Mini, Inc.5.875% 07/01/20240.1%
Clearway Energy Operating LLC5.750% 10/15/20250.1%
MPH Acquisition Holdings LLC7.125% 06/01/20240.1%
Fresh Market, Inc.9.750% 05/01/20230.1%
Shea Homes LP / Shea Homes Funding Corp.6.125% 04/01/20250.1%
Polaris Intermediate Corp8.500% 12/01/20220.1%
Alliant Holdings Intermediate LLC8.250% 08/01/20230.1%
Deck Chassis Acquisition, Inc.10.000% 06/15/20230.1%
SM Energy Co.6.750% 09/15/20260.1%
Chaparral Energy, Inc.8.750% 07/15/20230.1%
Intelsat Connect Finance SA9.500% 02/15/20230.1%
OCI NV6.625% 04/15/20230.1%
AES Corp.4.500% 03/15/20230.1%
Elwood Energy LLC8.159% 07/05/20260.1%
Matterhorn Merger Sub LLC / Matterhorn Finance Sub8.500% 06/01/20260.1%
NSG Holdings LLC / NSG Holdings, Inc.7.750% 12/15/20250.1%
Hill-Rom Holdings, Inc.5.000% 02/15/20250.1%
Laureate Education, Inc.8.250% 05/01/20250.1%
Hill-Rom Holdings, Inc.5.750% 09/01/20230.1%
Hilcorp Energy L.P. / Hilcorp Finance Co.5.750% 10/01/20250.1%
Univision Communications, Inc.5.125% 05/15/20230.1%
CenturyLink, Inc.5.625% 04/01/20250.1%
Trident Merger Sub Inc6.625% 11/01/20250.1%
Permian Resources LLC / AEPB Finance Corp.13.000% 11/30/20200.1%
TreeHouse Foods, Inc.6.000% 02/15/20240.1%
KeyCorp.5.000% 12/31/20990.1%
QuickSilver Inc.8.350% 04/08/20240.1%
Targa Resources Partners L.P.4.250% 11/15/20230.1%
B&G Foods, Inc.5.250% 04/01/20250.1%
Flex Acquisition Co Inc7.875% 07/15/20260.1%
Range Resources Corp.4.875% 05/15/20250.1%
Bristow Group, Inc.8.750% 03/01/20230.1%
Central Garden & Pet Co.5.125% 02/01/20280.1%
Ahern Rentals, Inc.7.375% 05/15/20230.1%
Antero Midstream Partners L.P. / Antero Midstream5.375% 09/15/20240.1%
York Risk Services Holding Corp8.500% 10/01/20220.1%
Caesars Palace Las Vegas Trust 2017-VICI4.354% 10/15/20340.1%
WPX Energy, Inc.5.750% 06/01/20260.1%
Sanchez Energy Corp.7.250% 02/15/20230.1%
Targa Resources Partners L.P.5.875% 04/15/20260.1%
Merlin Entertainments PLC5.750% 06/15/20260.1%
GOBP Holdings Inc.9.658% 10/22/20260.1%
Sirius XM Radio, Inc.6.000% 07/15/20240.1%
Benefitfocus, Inc.1.250% 12/15/20230.1%
Chesapeake Energy Corp.7.500% 10/01/20260.1%
Steel Dynamics, Inc.5.000% 12/15/20260.1%
Banff Merger Sub Inc9.750% 09/01/20260.1%
Energizer Gamma Acquisition Inc6.375% 07/15/20260.1%
W&T Offshore, Inc.9.750% 11/01/20230.1%
Pulte Group, Inc.6.375% 05/15/20330.1%
Stonegate Pub Company Financing PLC4.875% 03/15/20220.1%
24 Hour Fitness Worldwide, Inc.8.000% 06/01/20220.1%
Ritchie Bros Auctioneers, Inc.5.375% 01/15/20250.1%
Banff Merger Sub Inc8.375% 09/01/20260.1%
Numericable Group S.A.8.125% 02/01/20270.1%
Kuehg Corp11.053% 08/15/20250.1%
Central American Bottling Corp.5.750% 01/31/20270.1%
Allegheny Technologies, Inc.7.875% 08/15/20230.1%
Kernel Holding SA8.750% 01/31/20220.1%
Holly Energy Partners L.P. / Holly Energy Finance6.000% 08/01/20240.1%
Brink's Co/The4.625% 10/15/20270.1%
AES Corp.5.125% 09/01/20270.1%
TGP Holdings III LLC11.303% 09/20/20250.1%
Darling Global Finance BV3.625% 05/15/20260.1%
ACE Cash Express Inc12.000% 12/15/20220.1%
WTT Investment Ltd/Hong Kong5.500% 11/21/20220.1%
Tempo Acquisition LLC / Tempo Acquisition Finance6.750% 06/01/20250.1%
Navicure Inc10.022% 10/31/20250.1%
Endeavor Energy Resources L.P.5.500% 01/30/20260.1%
Buenos Aires, Argentina7.500% 06/01/20270.1%
Gateway Casinos & Entertainment Ltd8.250% 03/01/20240.1%
Novelis Corp.6.250% 08/15/20240.1%
Cardtronics Inc / Cardtronics USA Inc5.500% 05/01/20250.1%
Parsley Energy LLC6.250% 06/01/20240.1%
Etsy, Inc.0.000% 03/01/20230.1%
Golar LNG Partners L.P.8.564% 05/18/20210.1%
EnerSys5.000% 04/30/20230.1%
MongoDB Inc0.750% 06/15/20240.1%
Lamar Media Corp.5.750% 02/01/20260.1%
Rio Energy SA / UGEN SA / UENSA SA6.875% 02/01/20250.1%
Elanco Animal Health Inc4.900% 08/28/20280.1%
Werner FinCo LP / Werner FinCo Inc8.750% 07/15/20250.1%
JBS USA LLC/JBS USA Finance, Inc.5.875% 07/15/20240.1%
Dynagas LNG Partners L.P.6.250% 10/30/20190.1%
Extraction Oil & Gas Inc7.375% 05/15/20240.1%
Everbridge, Inc.1.500% 11/01/20220.1%
Qorvo, Inc.5.500% 07/15/20260.1%
Casella Waste Systems, Inc.0.000% -0.1%
Great Lakes Dredge & Dock Corp.8.000% 05/15/20220.1%
Transocean Proteus Ltd.6.250% 12/01/20240.1%
Lennar Corp.4.500% 04/30/20240.1%
SPX FLOW, Inc.5.875% 08/15/20260.1%
JBS USA LLC/JBS USA Finance, Inc.6.750% 02/15/20280.1%
Helix Gen Funding, LLC6.272% 06/03/20240.1%
Stena AB7.000% 02/01/20240.1%
Murphy Oil Corp.6.875% 08/15/20240.1%
DPL, Inc.7.250% 10/15/20210.1%
KGA Escrow LLC7.500% 08/15/20230.1%
PF Chang's China Bistro, Inc.10.250% 06/30/20200.1%
GE Capital International Funding Co.3.373% 11/15/20250.1%
W/S Packaging Holdings Inc9.000% 04/15/20230.1%
CVR Partners LP / CVR Nitrogen Finance Corp9.250% 06/15/20230.1%
MHP Lux SA6.950% 04/03/20260.1%
Brunello Cucinelli SpA0.000% -0.1%
Wabash National Corp.5.500% 10/01/20250.1%
Taylor Morrison Communities Inc6.625% 05/15/20220.1%
Transocean Phoenix 2 Ltd.7.750% 10/15/20240.1%
Valeant Pharmaceuticals International, Inc.7.000% 03/15/20240.1%
Community Health Systems, Inc.5.125% 08/01/20210.1%
Huntington Bancshares, Inc.5.700% 12/31/20990.1%
Monro Muffler Brake, Inc.0.000% -0.1%
Longview Power8.530% 03/25/20210.1%
GCP Applied Technologies, Inc.5.500% 04/15/20260.1%
Live Nation Entertainment, Inc.5.625% 03/15/20260.1%
Louisiana-Pacific Corp.4.875% 09/15/20240.1%
Stevens Holding Co Inc6.125% 10/01/20260.1%
Stars Group Holdings BV / Stars Group US Co-Borrow7.000% 07/15/20260.1%
Southern Graphics Inc9.845% 11/22/20230.1%
MRP Generation Holdings LLC9.359% 10/18/20220.1%
ServiceMaster Co LLC/The5.125% 11/15/20240.1%
Shake Shack, Inc.0.000% -0.1%
MGM Growth Properties Operating Partnership LP / M5.625% 05/01/20240.1%
Tupras Turkiye Petrol Rafine4.500% 10/18/20240.1%
Centene Corp.6.125% 02/15/20240.1%
Provincia de Mendoza Argentina8.375% 05/19/20240.1%
Intuitive Surgical, Inc.0.000% -0.1%
Glaukos Corp.0.000% -0.1%
Eaglepicher Tech LLC9.772% 03/09/20260.1%
Nokia Corp.4.375% 06/12/20270.1%
H&E Equipment Services, Inc.5.625% 09/01/20250.1%
MPT Operating Partnership L.P.5.000% 10/15/20270.1%
Compass Minerals International, Inc.4.875% 07/15/20240.1%
Stoneway Capital Corp10.000% 03/01/20270.1%
Eldorado Intl. Finance GmbH8.625% 06/16/20210.1%
Provincia de Cordoba7.450% 09/01/20240.1%
Charles River Laboratories International, Inc.5.500% 04/01/20260.1%
Province of Santa Fe6.900% 11/01/20270.1%
Bill Barrett Corp.7.000% 10/15/20220.1%
Builders FirstSource, Inc.5.625% 09/01/20240.1%
Guitar Center Escrow Issuer Inc9.500% 10/15/20210.1%
Six Flags Entertainment Corp.5.500% 04/15/20270.1%
Flynn Restaurant Group9.299% 06/29/20260.1%
Cargurus Inc0.000% -0.1%
SM Energy Co.6.625% 01/15/20270.1%
Six Flags Entertainment Corp.4.875% 07/31/20240.1%
First Data Corp.5.750% 01/15/20240.1%
Geopark Ltd.6.500% 09/21/20240.1%
Sugarhouse HSP Gaming Prop Mezz LP/Fin Corp.5.875% 05/15/20250.1%
Tencent Music Entertainment Group0.000% -0.1%
Nine Energy Service Inc8.750% 11/01/20230.1%
Summit Materials, Inc.0.000% -0.1%
Twitter, Inc.0.250% 06/15/20240.1%
Sotheby's4.875% 12/15/20250.1%
Eldorado Resorts, Inc.6.000% 09/15/20260.1%
Sally Holdings LLC / Sally Capital, Inc.5.625% 12/01/20250.1%
North American Lifting Holdings, Inc. (aka TNT Crane & Rigging, Inc)11.803% 11/26/20210.1%
Tesla Motors, Inc.1.250% 03/01/20210.1%
Cloud Crane LLC10.125% 08/01/20240.1%
Frontera Generation Hold6.629% 05/02/20250.1%
Sandy Creek Energy Associates5.000% 11/09/20200.1%
Terraform Global Operating LLC6.125% 03/01/20260.1%
DIRECT CHASSISLINK INC8.527% 06/15/20230.1%
Sprouts Farmers Markets LLC0.000% -0.1%
Performance Food Group, Inc.5.500% 06/01/20240.1%
Aerojet Rocketdyne Holdings, Inc.2.250% 12/15/20230.1%
Asbury Automotive Group, Inc.6.000% 12/15/20240.1%
Hilcorp Energy L.P. / Hilcorp Finance Co.6.250% 11/01/20280.1%
General Electric Co.3.375% 03/11/20240.1%
CMA CGM SA5.250% 01/15/20250.1%
Edwards Lifesciences Corp.0.000% -0.1%
Southwestern Energy Co.7.500% 04/01/20260.1%
Algeco Scotsman Global Finance plc8.000% 02/15/20230.1%
Denbury Resources, Inc.9.000% 05/15/20210.1%
Revlon, Inc. Class A5.571% 09/07/20230.1%
Tandem Diabetes Care, Inc.0.000% -0.1%
Yak Access LLC12.319% 07/10/20260.1%
Cumberland Farms Inc6.750% 05/01/20250.1%
RegionalCare Hospital Partners Holdings Inc8.250% 05/01/20230.1%
AssuredPartners Inc7.000% 08/15/20250.1%
Navistar International Corp.6.625% 11/01/20250.1%
Swordfish Merger Sub LLC9.130% 02/02/20260.1%
Tallgrass Energy Partners LP / Tallgrass Energy Fi4.750% 10/01/20230.1%
Grinding Media, Inc. / MC Grinding Media Canada, I7.375% 12/15/20230.1%
Station Casinos LLC5.000% 10/01/20250.1%
VM Holding SA5.375% 05/04/20270.1%
Commercial Barge Line11.272% 11/12/20200.1%
Levi Strauss & Co.3.375% 03/15/20270.1%
WMG Acquisition Corp.5.000% 08/01/20230.1%
Belk, Inc.5.750% 12/12/20220.1%
Madison Square Garden Co.0.000% -0.1%
eDreams ODIGEO SL5.500% 09/01/20230.1%
Five9, Inc.0.125% 05/01/20230.1%
TPC Group, Inc.8.750% 12/15/20200.1%
Denbury Resources, Inc.4.625% 07/15/20230.1%
TripAdvisor, Inc.0.000% -0.1%
Triumph Group, Inc.5.250% 06/01/20220.1%
Paprec Holding SA4.000% 03/31/20250.1%
Radiate Holdco LLC / Radiate Finance Inc6.625% 02/15/20250.1%
Gulfport Energy Corp.6.375% 01/15/20260.1%
General Motors Financial Co., Inc.3.850% 01/05/20280.1%
Gulfport Energy Corp.6.375% 05/15/20250.1%
Eclipse Resources Corp.8.875% 07/15/20230.1%
BBA US Holdings Inc5.375% 05/01/20260.1%
Prime Security Services Borrower LLC / Prime Finan9.250% 05/15/20230.1%
Novelis Corp.5.875% 09/30/20260.1%
Claire's Stores, Inc.0.000% -0.1%
Chobani LLC / Chobani Finance Corp Inc7.500% 04/15/20250.1%
Moxie Patriot LLC8.553% 12/19/20200.1%
Hadrian Merger Sub Inc8.500% 05/01/20260.1%
Dole Food Co., Inc.7.250% 06/15/20250.1%
KeHE Distributors LLC / KeHE Finance Corp.7.625% 08/15/20210.1%
Container Store7.522% 09/14/20230.1%
Malibu Boats, Inc.0.000% -0.1%
LGI Homes, Inc.0.000% -0.1%
Canada Goose Holdings Inc0.000% -0.1%
NVA Holdings Inc/United States6.875% 04/01/20260.1%
Republic of Argentina6.875% 04/22/20210.1%
Crosby Group (KKR)5.504% 11/22/20200.1%
Inmarsat Finance plc6.500% 10/01/20240.1%
Excelitas Technologies9.849% 11/15/20250.1%
SeaWorld Entertainment, Inc.0.000% -0.1%
Medical Properties Trust Inc0.000% -0.1%
Americold Realty Trust0.000% -0.1%
Fogo De Chao Inc6.648% 04/07/20250.1%
Bruin E&P Partners LLC8.875% 08/01/20230.1%
PVH Corp.3.125% 12/15/20270.1%
Church & Dwight Co., Inc.0.000% -0.1%
Altran Technologies9.272% 06/26/20260.1%
United Rentals, Inc.4.625% 10/15/20250.1%
Colorado Buyer, Inc.9.630% 05/01/20250.1%
Teva Pharmaceutical Finance Netherlands II BV1.875% 03/31/20270.1%
Aerovironment, Inc.0.000% -0.1%
BWAY Holding Co.7.250% 04/15/20250.1%
AES Corp.0.000% -0.1%
Illumina, Inc.0.000% 08/15/20230.1%
Provident Funding Associates L.P. / PFG Finance Co6.375% 06/15/20250.1%
Rayonier AM Products, Inc.5.500% 06/01/20240.1%
Upwork Inc0.000% -0.1%
Powerteam Services LLC10.063% 03/06/20260.1%
SPCM S.A.4.875% 09/15/20250.1%
Cheniere Corpus Christi Holdings LLC7.000% 06/30/20240.1%
Mattel, Inc.5.450% 11/01/20410.1%
Wyndham Worldwide Corp.6.350% 10/01/20250.1%
MGIC Investment Corp.5.750% 08/15/20230.1%
CIBT Solutions, Inc.9.210% 06/01/20250.1%
Level 3 Financing, Inc.5.250% 03/15/20260.1%
Petco Animal Supplies, Inc.5.592% 01/26/20230.1%
Carrizo Oil & Gas, Inc.8.250% 07/15/20250.1%
AMC Entertainment Holdings, Inc.5.875% 11/15/20260.1%
Boston Beer Co., Inc.0.000% -0.1%
Canopy Growth Corp4.250% 07/15/20230.1%
Pyxus International Inc9.875% 07/15/20210.1%
Kenan Advantage Group, Inc.7.875% 07/31/20230.1%
Ascena Retail Group, Inc.7.063% 08/21/20220.1%
OM Asset Management plc4.800% 07/27/20260.1%
Boyd Gaming Corp.6.000% 08/15/20260.1%
SM Energy Co.5.625% 06/01/20250.1%
Oceaneering International, Inc.4.650% 11/15/20240.1%
Altice Luxembourg SA7.750% 05/15/20220.1%
Imperial Metals Corp.7.000% 03/15/20190.1%
Enova International, Inc.8.500% 09/15/20250.1%
Ensco plc4.500% 10/01/20240.1%
Optimas OE Solutions Holding LLC / Optimas OE Solu8.625% 06/01/20210.1%
LBC Tank Terminals Holding Netherlands BV6.875% 05/15/20230.1%
Acadia Healthcare Co., Inc.5.625% 02/15/20230.1%
Mercer International, Inc.7.375% 01/15/20250.1%
Freedom Mortgage Corp8.250% 04/15/20250.1%
Hulk Finance Corp7.000% 06/01/20260.1%
Toll Brothers Finance Corp.4.350% 02/15/20280.1%
Griffon Corp.5.250% 03/01/20220.1%
Ensco plc5.200% 03/15/20250.1%
Hot Topic, Inc.9.250% 06/15/20210.1%
JD Power & Associates9.500% 06/09/20240.1%
HCA, Inc.5.375% 02/01/20250.1%
VF Holding Corp10.053% 07/02/20260.1%
Medplast Holdings Inc10.553% 06/22/20260.1%
Clearway Energy Operating LLC5.000% 09/15/20260.1%
Joseph T Ryerson & Son, Inc.11.000% 05/15/20220.1%
Mexichem SAB de CV5.875% 09/17/20440.1%
Gray Television, Inc.5.125% 10/15/20240.1%
Air Canada 2015-2 Class B Pass Through Trust5.000% 12/15/20230.1%
HCA, Inc.5.250% 04/15/20250.1%
HCA, Inc.5.875% 03/15/20220.1%
Bulldog Purchaser Inc10.272% 09/04/20260.1%
Gibson Brands, Inc11.773% 05/01/20190.1%
Hilton Domestic Operating Co, Inc.4.250% 09/01/20240.1%
AMC Entertainment Holdings, Inc.6.125% 05/15/20270.1%
High Ridge Brands Co.8.875% 03/15/20250.1%
Freedom Mortgage Corp8.125% 11/15/20240.1%
Ensco plc7.750% 02/01/20260.1%
CIT Group, Inc.5.250% 03/07/20250.1%
Transocean Pontus Ltd6.125% 08/01/20250.1%
HCA, Inc.7.690% 06/15/20250.1%
Wyndham Worldwide Corp.5.750% 04/01/20270.1%
UC Holdings0.000% -0.1%
Simmons Foods, Inc.7.750% 01/15/20240.1%
Teleflex, Inc.4.625% 11/15/20270.1%
PDC Energy, Inc.6.125% 09/15/20240.1%
William Lyon Homes, Inc.7.000% 08/15/20220.1%
Delhi International Airport Pvt Ltd6.125% 10/31/20260.1%
Univision Communications, Inc.5.125% 02/15/20250.1%
Panda Temple Power, LLC9.800% 02/07/20230.1%
Steel Dynamics, Inc.4.125% 09/15/20250.1%
Oceaneering International, Inc.6.000% 02/01/20280.1%
Albertsons Cos LLC / Safeway, Inc. / New Albertson5.750% 03/15/20250.1%
Manchester United Plc0.000% -0.1%
CF Industries, Inc.4.950% 06/01/20430.0%
Piaggio & C SpA3.625% 04/30/20250.0%
MSCI, Inc.5.375% 05/15/20270.0%
Trimas Corp.4.875% 10/15/20250.0%
Monitronics International, Inc.9.125% 04/01/20200.0%
Pioneer Energy Services Corp.6.125% 03/15/20220.0%
CIT Group, Inc.6.000% 04/01/20360.0%
CSI Compressco LP / CSI Compressco Finance Inc7.250% 08/15/20220.0%
Lennar Corp.4.750% 11/29/20270.0%
Bulldog Purchaser Inc.3.875% 08/21/20260.0%
Clearway Energy Operating LLC5.375% 08/15/20240.0%
Gopher Sub, Inc.9.272% 02/02/20260.0%
Univision Communications Inc.5.272% 03/15/20240.0%
Claire's Stores, Inc.14.000% 09/05/20380.0%
Unit Corp.6.625% 05/15/20210.0%
HCA, Inc.5.875% 02/15/20260.0%
Universal Health Services, Inc.5.000% 06/01/20260.0%
Claire's Stores Inc.0.000% 09/15/20380.0%
Chaparral Energy, Inc.0.000% -0.0%
Remington Outdoor Co. Inc.0.000% -0.0%
AECOM5.125% 03/15/20270.0%
Netflix, Inc.4.875% 04/15/20280.0%
FGI Operating Company, LLC0.000% 05/15/20220.0%
Templar Energy LLC0.000% -0.0%
Interest Rate Swap0.000% 03/20/20190.0%
Interest Rate Swap0.000% 03/20/20190.0%
Credit Default Swap1.000% 06/20/20200.0%
Tonon Luxembourg S.A.10.500% 05/14/20240.0%
Interest Rate Swap0.000% 03/20/20190.0%
FX USD/CAD 03/190.000% 03/05/20190.0%
Interest Rate Swap0.000% 03/20/20190.0%
Templar Energy LLC0.000% -0.0%
Morgan Stanley Capital I Trust5.510% 07/15/20560.0%
PPL Energy Supply LLC4.600% 12/15/20210.0%
Rack Holdings9.705% 10/03/20220.0%
Penson Technologies LLC0.000% -0.0%
Fairway Group Holdings Corp.0.000% 11/24/20230.0%
FX GBP/USD 03/190.000% 03/05/20190.0%
FX EUR/USD 02/190.000% 02/19/20190.0%
Afren plc6.625% 12/09/20200.0%
Afren plc11.500% 02/01/20160.0%
Afren plc10.250% 04/08/20190.0%
FX USD/GBP 03/190.000% 03/05/20190.0%
FX EUR/USD 02/190.000% 02/19/20190.0%
US 5YR NOTE (CBT) MAR190.000% 04/03/20190.0%
US ULTRA BOND CBT MAR190.000% 03/29/20190.0%
US 10YR NOTE (CBT)MAR190.000% 03/29/20190.0%
US LONG BOND(CBT) MAR190.000% 03/29/20190.0%
US 10YR ULTRA FUT MAR190.000% 03/29/20190.0%
EURO-BOBL FUT Mar190.000% 03/11/20190.0%
Energizer Holdings Inc0.000% 05/18/20190.0%
EURO-BUND FUTURE Mar190.000% 03/11/20190.0%
Fairway Group Holdings Corp.0.000% 02/24/20240.0%
Mirabela Nickel Ltd.1.000% 09/16/20440.0%
Momentive Performance Escrow0.000% 12/31/20490.0%
Washington Mutual, Inc.6.875% 06/15/20110.0%
General Motors Co.7.200% 01/15/20490.0%
Claire's Stores, Inc.0.000% 09/15/20220.0%
Remington Outdoor Co. Inc.0.000% -0.0%
Fairway Group Acquisition Company0.000% -0.0%
US 2YR NOTE (CBT) MAR190.000% 04/03/20190.0%
FX USD/EUR 03/190.000% 03/07/20190.0%
FX USD/EUR 02/190.000% 02/19/20190.0%
J.P.Morgan Securities LLC0.010% -0.0%
Credit Index Swap5.000% 12/20/2023-0.1%

Aggregate holdings are updated monthly, 30 days after month end. Aggregate holdings are presented to illustrate examples of the securities that the Fund has bought and the diversity of the areas in which the Fund may invest, and may not be representative of the Fund's current or future investments. The figures presented are as of the date shown and may change at any time.

Sector Allocationas of 12/31/2018

Sector Weighting Fund Change from Previous Quarter
Sector Weighting Fund Change from Previous Quarter
Retail arrowUp0.4%
Basic Industry arrowDown1.5%
Leisure arrowDown0.6%
Banking arrowDown0.2%
Energy arrowDown1.5%
Media arrowUp2.8%
Real Estate arrowDown0.1%
Capital Goods arrowDown0.1%
Technology & Electronics arrowDown1.1%
Financial Services arrowDown0.7%
Telecommunications arrowUp1.0%
Healthcare arrowUp1.1%
Consumer Goods arrowUp0.5%
Other arrowDown0.2%
Utility arrowUp0.4%
Services arrowDown0.3%
Transportation arrowDown0.4%
Insurance arrowUp0.1%
Automotive arrowUp0.5%

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

Dividend Payments

For
YTD Dividends Paidas of 02/22/2019
$0.035
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 01/31/2019 $0.03579 $7.18

Upcoming Dividend Payment Dates

Record Date Ex-Dividend Date Reinvest & Payable Date
Daily Daily 02/28/2019
Daily Daily 03/31/2019
Daily Daily 04/30/2019
Daily Daily 05/31/2019
Daily Daily 06/30/2019
Daily Daily 07/31/2019
Daily Daily 08/31/2019
Daily Daily 09/30/2019
Daily Daily 10/31/2019
Daily Daily 11/30/2019
Daily Daily 12/31/2019

Capital Gains Distributions

For
Record Date Reinvest & Payable Date Long-term Short-term * Total Reinvest Price
12/18/2014 12/19/2014 $0.0899 $0.0792 $0.1691 $7.44
*

Taxed as ordinary income

Lord Abbett does not provide tax advice. It is strongly recommended that you discuss the impact of dividends and distributions with your tax advisor. 

Upcoming Capital Gain Distribution

Record Date Ex-Dividend Date
12/17/2019 12/18/2019

Fees & Expenses

Fees & Expenses

Sales Charge Schedule as of 02/22/2019

  Sales Charge Dealer's Concession Prices at Breakpoint
Less than $100,000 2.25% 2.00% $7.42
$100,000 to $249,999 1.75% 1.50% $7.38
$250,000 to $499,999 1.25% 1.00% $7.34
$500,000 to $999,999 0.00% 1.00% $7.25
$1,000,000 to $5,000,000 0.00% 1.00% $7.25

The 12b-1 trail commission is 0.15% (accrues immediately) for all fixed-income and municipal income funds.

Class A shares purchased without a sales charge (commissionable NAV) will be subject to a CDSC of 1% if they are redeemed before the first day of the month in which the one-year anniversary of the purchase falls.

For Sales Charge Reductions and Waivers Click here.

Expense Ratioas of 01/31/2019

Fund Documents

Fund Documents

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Publish Date:11/03/2015
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Publish Date:11/03/2015
SAI
Publish Date:11/03/2015
Annual Report
Publish Date:11/03/2015
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Publish Date:11/03/2015
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Minimum initial investment varies depending on the class of shares you buy and the type of account. IRAs, SIMPLEs, and SEP accounts with payroll deductions have no minimums. Please see Fund prospectuses for additional information.      

                    

1

Dividend Yield is a financial ratio that shows how much a mutual fund pays out in dividends each year relative to value with maximum sales charges and without sales charges. The dividend yield is calculated by annualizing the last dividend and dividing it by the fund’s net asset value with maximum sales charges and without sales charges.

 

2

The 30-Day Standardized Yield represents net investment income earned by a fund over a 30-day period. It is expressed as an annual percentage rate using a method of calculation adopted by the Securities and Exchange Commission (SEC). Yields for other share classes will vary.

 

 

IMPORTANT INFORMATION

 

A Note about Risk: The Fund is subject to the general risks associated with investing in debt securities, including market, credit, liquidity, and interest rate risk. The Fund invests primarily in high-yield, lower-rated securities, sometimes called junk bonds. These securities carry increased risks of price volatility, illiquidity, and the possibility of default in the timely payment of interest and principal. The Fund may invest in foreign or emerging market securities, which may be adversely affected by economic, political, or regulatory factors and subject to currency volatility and greater liquidity risk. The Fund may invest in derivatives, which are subject to greater liquidity, leverage, and counterparty risk. These factors can affect Fund performance.

 

Performance data quoted is historical. Past performance is not indicative of future results. Current performance may be higher or lower than the performance quoted. The investment return and principal value of an investment in the Fund will fluctuate so that shares, on any given day or when redeemed, may be worth more or less than their original cost. To obtain performance data current to the most recent quarter-end, go to quarter ending performance on our Website or call Lord Abbett at (888) 522-2388.

 

 

Class A  Except as noted below, returns with sales charges reflect a maximum sales charge of 5.75% for equity funds, 2.25% for all tax-free income funds, fixed income funds and multi-asset class funds. There are also ongoing 12b-1 service fees (and, in certain cases, distribution fees).

Class A Shares purchased subject to a front-end sales charge have no contingent deferred sales charge (CDSC). However, certain purchases of Class A shares made without a front-end sales charge may be subject to a CDSC of 1% if the shares are redeemed before the first day of the month in which the one year anniversary of the purchase falls. The CDSC is not reflected in the performance with maximum sales charge.

With Sales Charge - Returns with sales charges reflect applicable fees and expenses and include all distributions reinvested.

 

Without Sales Charge - Returns shown are without sales charges and have all distributions reinvested. If a sales charge had been deducted, the results would have been lower.

 

Returns shown at less than a year reflect aggregate total returns.

 

Double-Digit Returns - instances of high double-digit returns were achieved primarily during favorable market conditions and may not be sustainable over time.   

 

The ICE BofA Merrill Lynch U.S. High Yield Constrained Index is a capitalization-weighted index of all US dollar denominated below investment grade corporate debt publicly issued in the US domestic market. Qualifying securities must have a below investment grade rating (based on an average of Moody’s, S&P and Fitch), at least 18 months to final maturity at the time of issuance, at least one year remaining term to final maturity as of the rebalancing date, a fixed coupon schedule and a minimum amount outstanding of $100 million. The index caps individual issuer at 2%. Index constituents are capitalization-weighted, based on their current amount outstanding, provided the total allocation to an individual issuer does not exceed 2%. Issuers that exceed the limit are reduced to 2% and the face value of each of their bonds is adjusted on a pro-rata basis. The face values of bonds of all other issuers that fall below the 2% cap are increased on a pro-rata basis. In the event there are fewer than 50 issuers in the Index, each is equally weighted and the face values of their respective bonds are increased or decreased on a pro-rata basis.

Source: ICE Data Indices, LLC. 

Source ICE Data Indices, LLC (“ICE”), used with permission. ICE PERMITS USE OF THE ICE BofAML INDICES AND RELATED DATA ON AN "AS IS" BASIS, MAKES NO WARRANTIES REGARDING SAME, DOES NOT GUARANTEE THE SUITABILITY, QUALITY, ACCURACY, TIMELINESS, AND/OR COMPLETENESS OF THE ICE BofAML INDICES OR ANY DATA INCLUDED IN, RELATED TO, OR DERIVED THEREFROM, ASSUMES NO LIABILITY IN CONNECTION WITH THE USE OF THE FOREGOING, AND DOES NOT SPONSOR, ENDORSE, OR RECOMMEND LORD ABBETT, OR ANY OF ITS PRODUCTS OR SERVICES.

Indexes reflect total return, unless otherwise specified, with all dividends reinvested. Indexes are unmanaged, do not reflect the deduction of fees or expenses, and are not available for direct investment.

 

The Overall Morningstar RatingTM is derived from a weighted average of the performance figures associated with a fund's three-, five-, and 10-year (as applicable) Morningstar RatingTM metrics. © Morningstar, Inc. All rights reserved. The information contained herein (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.

 

Morningstar proprietary ratings reflect historical risk-adjusted performance. For each fund with at least a three-year history, Morningstar calculates a Morningstar RatingTM based on a Morningstar risk-adjusted return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. Load-waived ratings do not include any front-end sales charges (which are only available for certain defined contribution plans and certain mutual fund advisory programs) and should only be considered by investors who are not subject to sales loads. Not all funds with a load-waived rating may waive their front-end load. An investor should check with their advisor to determine if they are eligible to purchase the load-waived Class A share. The top 10% of the funds in an investment category receive 5 stars, 22.5% receive 4 stars, 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages). The Overall Morningstar rating is a weighted average of funds' three-, five-, and 10-year (as applicable) ratings. Past performance is no guarantee of future results. Morningstar Rating is for the Class A share only; other classes may have different performance characteristics.

 

Lipper Category Average - Peer group averages are based on universes of funds with the same investment objectives. The average return for the peer group is based on the returns of each individual fund within the group for the period shown. This average assumes reinvestment of dividends.

 

Fund Expense Ratio Detail: Reflects expenses for the Fund's fiscal year-end and is subject to change. Fund expenses may fluctuate with market volatility. A substantial reduction in Fund assets (since its most recently completed fiscal year), whether caused by market conditions or significant redemptions or both, will likely cause total operating expenses (as a percentage of Fund assets) to become higher than those shown.

 

 

Lipper Category Average Expense Ratio reflects the average net expenses of Class A shares of all funds with in the peer group based on Lipper data available.

 

The Fund's portfolio is actively managed and portfolio characteristics, such as individual holdings and sector weightings may change significantly over time. The portfolio data is for information only. It does not constitute a recommendation or an offer for a particular security or fund, nor should it be taken as a solicitation or recommendation to buy or sell securities or other investments.  

 

Dividends and Capital Gains: The information presented in this section is intended for general information and is not intended to be relied upon and should not be relied upon, as financial, legal or tax advice for any particular investor. We strongly recommend that you contact your financial, legal or tax advisor regarding your particular tax situation.

The information presented in this section is not written or intended to be used, and cannot be used, for the purpose of avoiding any tax liabilities or penalties.

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